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SGT 0815
📈 BTC | $61,440 (+$789, +1.3%)
📈 ETH | $3,846 (+$22, +0.6%)
📉 XRP | $1.10 (-$0.03, -2.9%)
📉 LTC | $184 (-$2, -0.9%)
📈 Total Crypto Market Cap: $2.48T (+0.4%)
🔎 Bitcoin pared gains after rising past $62K over the weekend, and has been holding strongly above the psychologically important $60K mark. Notably, the total market capitalisation of cryptocurrencies is now nearly back to its mid-May peak of around $2.53 trillion.
🎉 The USA’s first Bitcoin futures ETF will list on Monday, under the ticker $BITO (barring any last-minute regulatory intervention). While certainly a milestone for Bitcoin with possible implications for spot Bitcoin prices, many are questioning the advantages of trading in a Bitcoin futures ETF over simply buying Bitcoin, particularly for smaller investors who have easier access to cryptocurrencies today.
🚂 On that topic, Grayscale Investments (managing the world’s biggest Bitcoin fund GBTC) is applying to convert their fund into a spot exchange-trade ETF, where the fund would be backed by actual cryptocurrencies, rather than crypto futures. Such an application would likely further improve the view of cryptocurrencies as investible assets, although the chances of the SEC approving their application are currently unknown.
Cryptocurrency CFD is available for trading on Phillip MetaTrader 5 (MT5).
Features of trading CFD
- Trade in both the bull and the bear markets
The ability to enter a long and/or short position allows traders to take advantage of both rising and falling markets. - Smaller barrier to entry
CFDs typically have flexible and smaller contract sizes. This means that traders will be able to enter into a CFD contract with a modest amount of capital. - No expiration date or risk of delivery
Unlike futures which commonly have a fixed expiration date, CFDs allow traders to perpetually hold the position(s). CFDs are cash settled, no need to worry about the delivery of the underlying asset.
Trade Bitcoin, Ethereum, Litecoin, and Ripple CFDs at zero commission on Phillip MetaTrader 5, a dynamic platform that offers low spreads. Integrated with Acuity Signal Centre and Trading Central Indicators, and available on mobile, web and desktop app, you will never miss a trading opportunity with Phillip MT5.
Download Trading Central’s Market Buzz for updates on more topics.
What’s more? Phillip MT5 is now supported on Mac OS! To install, simply download the file below and complete a simple installation process.
